Friday Night and Weekend American and European Football matches—Saturday nights of letting yourself loose or just simply catch up to have a drink or two with friends. Taking a break from work or the pile of college term papers you have to finish and sit in the pub, talking to the bartender, making no sense at all because you’ve had one too many. You may also see bar business plan templates.
Or maybe a ladies’ night out because the men can’t have all the fun. Whether or not you’re a student or an adult working yourself half to exhaustion for the past few days, a bar or a pub is always a nice place to go to, if only to find that much needed drink to forget the reality of life for just this night. You may also see restaurant business plans.
Bars and pubs have always been around through hard and good times. It’s where people gather to socialize or just to be alone and try to watch a game of his or her favorite sports. Just a week or two ago, pubs and bars all over the world have been filled with people cheering their country on, in the world cup matches. Then there’s your your group of young people meeting over beer because there’s never a better conversation than raw, drunken ones.
And there’s never been a better time to enter the bar and restaurant scene either, despite the competition. People would always find themselves enjoying the drinks after a day’s work, whether they’re carpenters, businessmen, lawyers-you name them, you’ll find them in bars and pubs.
You would even find students there too. You would find different types of people. Artists, writers, and friends of their friends. They’ll gather and meet to talk about world peace, the great perhaps, the Mona Lisa, whatever it is they would find worth talking over alcohol, with their great, mad minds. That’s why if you ever had that sample plan of investing in a bar business, now is the time. So if you are, then here are some tips we have gathered to help you get started:
Location is always a big deal when it comes to a bar or a restaurant business. The right location can determine the success of your bar so try to find which one it is in your area, or another area you are interested in entering the bar scene in and evaluate if the concept you have in mind has a good chance of working there.
A businessman, especially one that’s just starting and especially one that might be building it from scratch should always consider the visibility of his business while also ensuring that the area isn’t too jam-packed with bars at every street and corner. You can only have so much competition. And 3-5 well-known bars on one street is already a lot to compete with. You may also see coffee shop business plans.
Having the right business concept and choosing the right location backed with a good strategy out of finding out just how much competition your bar business would have should be a deciding factor when planning to start that business. You may also see cafe business plan templates.
Don’t get us wrong. Of course, knowing enough about the bar industry is your key to deciding why you should join it. Understanding the industry, its standards, best practices, what to avoid as well as its suppliers should be considers second-nature to anyone aspiring to become a good bar manager or owner but that’s not all there is to it. You may also see successful business plans.
For example, what’s the market like in the area where you plan to build or have your bar? Who are you competing against? And why do you think someone might choose the bar across the street instead of yours? Is there some sort of missing piece you can find or fill, or is the bar you’re going to manage just another bar people can go to? Having a good understanding of the current landscape you will try to occupy is necessary for all bar owners. You may also see restaurant business proposals.
Hire for attitude. Train for skills. That’s because building a team that’s good enough to serve your customers can also make a big difference in making you successful. Your job is to ensure that the people you hire have the right attitude to face the customers because your employees are the face of your small business, they’re your front-liners. If for example, a bartender offends or cause the customer any inconvenience, rubs him or her the wrong way, chances are, they will never come back. That’s not the worse that can happen either. They will tell anybody who cares to listen how bad the service it at your bar. And bad publicity is bad for business.
You have to build a team who have the heart to work and serve people. Customer service skills can be trained. Attitude can be a hard, hard thing to change. One bad apple in your group is going to take all of you down with him, and all that you will have worked hard for.
There’s no denying that it’s much cheaper to go drinking at home. You might have bottles of wine stored or cans of beer stashed away or the “rainy days” and with the right dedication and training, anyone can mix a Long Island Iced tea and properly pour the best vodka in the bar. You may also see free business plan templates.
You would have the ability to do some decent bar tending that would pass as decent bar tending. But bars need to do more than just pour and mix the drinks to enjoy a long-term success worthy of the best bars in all of the United States. Try finding out what your regular customers enjoy. Is it trivia? Some type of music? A live band? Acoustic nights? Rock contests? Do you need to do some bar social media engagement to have more visibility? Then what are you waiting for? Go ahead and give it to them!
Do some research and dish out incentives for people to return to the bar. Give them what they want and they will surely appreciate it. People want to go to your bar not because they just want to drink. Otherwise, there are plenty of other bars that might be closer to where they live that they can just go to. Learn what that is, and capitalize on it. That’s your leverage and the more enjoyable and innovative your bar gets, the more success it’s going to enjoy. You may also see sample business plans.
What’s in the current bar and restaurant selling game? As much as possible, a businessman should keep himself updated with the latest food and drinks trends in the market. Just like the clothing industry, your industry also has its share of yearly hits and misses. Knowing what they are would help a lot when you map out your basic business plan since you also need to get it updated each year. If however, you have your own strategy and you have done enough market analysis and research for your business plan, then you might just be off to a steady start.
Speaking of personal business plan, as any businessman aiming for long-term success, you cannot start a bar business without creating one. Aside from a market analysis, these are the things you need for a business plan:
This is very important because your executive summary will be a description of what you plan to achieve, what you want and how you plan to achieve or get it. Within a business plan’s overall outline, this document should follow after the title page. Describe in detail what your current plans are for the business to get started, including your projections for the fiscal year.
This is pretty self explanatory but make sure that you begin with a detailed description of the bar industry. Your description should include a present outlook as well as overview of the future possibilities. You should also be able to provide information on the different markets within the industry with the latest products or trends that you can use as an advantage or will have an impact on your simple business.
You don’t have to set The Hall Of Fame or The Founding Fathers Pub as your standards. It doesn’t have to be another Irish Pub just to have an impression either. You just have to know where to put your bar, have the right people and a good plan for your bar business to get off the ground. You may not even have a background in business to decide embarking in a business venture but you might just be good at this, especially if like many others, you fancy the night life or simply just like to have more than an occasional glass of wine, whiskey, and good old Johnny Walker.